Hyperspace Challenge is going virtual for the first time in our 3-year program history. As such, we ask for your patience and partnership and we strive to make this year’s challenge better than ever! All companies should plan to give around 2-3 hours of their time in August for a series of webinars with government users. This time will increase dependent on the number or webinars your team in interested in attending. These webinars will help you further understand agencies’ needs and how your capabilities may help solve these problems. After the webinar series, plan to give 5 hours of your time to develop your submission, due on September 4, 2020. Submissions are your explanation of how your company’s capabilities respond to specific problem statement(s). If your submission is selected as a finalist to participate in Hyperspace Accelerator, prepare to spend 2-3 hours per week on collaborative webinars October through November. Thoroughout October and November, we will be helping you identify contracting opportunities, which will require more time dependent on which, if any you chose to pursue. Then, on December 3rd, you’ll participate in a virtual Demo Day, in which you’ll interact with government users and illustrate how your capabilities fit government customer needs.
We have worked with each problem sponsor to confirm they have a pathway to purchasing/contracting at the end of Hyperspace Challenge. This is to say they either have buying authority or a pathway to a contract. Part of the role we serve is to help you understand and maneuver the contracting process through the Hyperspace Challenge.
Yes, you can partner with another company or organization. Please have the ‘lead’ company be the company who would the lead on any contract you would be pursuing moving forward. Revenue numbers are only required for the lead, if you’d like to include your collaborator’s revenue that is optional, the appropriate place to do this are in the sections “Company Revenue Overall” and “Federal Goverment Revenue History” on the written portion of the submission. Please do not combine the revenues from both companies into one number, keep revenues clearly designated to the appropriate company or organization.
There are numerous contracting and acquisition opportunities that might exist through the program. Hyperspace Challenge is one of many initiatives emerging as Space Technology Accelerators within the Space Force, Air Force, and participating in our challenge brings you into a network that also includes Colorado Springs and Los Angeles, as well as other programs focused on increasing the speed of innovation within the defense community. We cannot guarantee that participants will win contracts or undergo rapid acquisition with government agencies. However, we’re here to help facilitate the contracting process as new contracts are a primary goal of Hyperspace Challenge. We do know that startups who have participated in similar programs have gone on to contract or have their technology purchased by government users they met during their respective programs.
We encourage companies to use appropriate discretion as they interact with defense users and peer participants. We want your capabilities to be understood, but your IP and/or trade secrets will remain protected. Rest assured that anything shared with the Hyperspace Challenge team will be used only for purposes of screening, vetting, and selecting applicants for full participation.
After the Hyperspace Challenge, your company may be assigned a Government Navigator who will continue to assist in your company’s pursuit of rapid acquisition or contracting opportunities. This person will help broker follow-on meetings, navigate submission processes, and generally vouch for you within the defense community. Because there are many ways a company’s technology might reach end users within the defense community, we can’t prescribe exactly what will happen and a precise timeline, but our commitment is to help you move as quickly as possible to a real business relationship over three to six months post-accelerator.
We recommend three roles from your company be present, dependent on the activity, to realize the full benefit of the interactions:
- Business Development Lead (CEO for many startups)
- Technical Lead (CTO for many startups, understands overall capabilities of the company’s technology[ies])
- Product Lead / Developer (i.e. team member working under Technical Lead who is hands-on with the code)